Barium Sulfate Market - Global Industry Analysis, Size, Share, Trends, and Forecast 2017 - 2025
Barium is being increasingly used in various industries due to its high level of chemical reactivity. Some of the commonly used derivatives of barium are barium nitrate, barium oxide, barium sulfate, barium titanate, barium chloride, and barium carbonate. Among these, barium sulfate is massively popular and highly acknowledged for not having hazardous effects on humans as well as the environment. It is widely used in the manufacturing of polystyrene and polypropylene and thus, the soaring demand for these compounds in the packaging industry is stoking the growth of the global market for barium sulfate.
Barium sulfate has strong demand as a radio-contrast agent in X-ray imaging and other diagnostic procedures. Hence, the development of the novel diagnostic technologies is augmenting the overall market. The emergence of nanotechnology is also working in the favor of the global market. Apart from this, the increasing consumption of barium sulfate across industries such as automotive and steel in developed regions such as North America is fuelling growth prospects.
The majority of players in the global barium sulfate market are focusing towards research and development and product innovation. Companies are striving to boost their presence across different application segments and geographies in order to maximize their profit. Key players are also trying to capitalize on the rapid advancements in nanotechnology in order to stay relevant in the market.
The global barium sulfate market employs barite mineral as the chief commercial source of barium. The inorganic compound barium sulfate is heavily exploited in its salient applications because of its excellent properties such as white opaque appearance and high density. Impure and pure barium sulfate are the two principal grades produced globally.
The ceramic industry has remarkably led the global barium sulfate market toward a commendable growth for a good reason. It is one of the leading consumers of barium carbonate, which is produced from barium sulfide. In the event, this would certainly drive the global market since barium sulfate is used in the production of barium sulfide. The other applications of barium sulfate include pyrotechnics, brake linings, catalyst support, colorimetry, root canal filling, soil pH test, anacoustic foams, powder coatings, and Episal salt. Barium sulfate is also peculiarly used as a drilling fluid, paper brightener, pigment, radiocontrast agent, and plastic filler.
The demand in the international barium sulfate market is envisioned to register a phenomenal growth in the foreseeable future with a record high maturation of crucial sectors such as paper, plastics, and paints and coatings. Giants companies are taking to the titanic market potential of the emerging nations of the world to rake in prodigious business profits. End-user sectors such as construction, plastics, paper, paints and coatings, oil well drilling, automotive, medical, and X-ray imaging have been demanding barium sulfate at a swift rate, especially in the developing regions. All of these factors have laid a healthy foundation for the global market to gain a momentous growth during the forecast period.
Not many years from now, the world barium sulfate market is anticipated to receive a strong support from the Asia Pacific market, which is expected to witness a supersonic growth. Surfacing Asia Pacific countries such as India, Malaysia, China, Thailand, and Indonesia are putting forth a noteworthy demand for barium sulfate. With an impressive market potential in the oil well drilling, plastics, paper, paints and coatings, and construction industries, the aforementioned emerging nations including Brazil and Qatar are foretold to create a significant demand. Moreover, Brazil and Qatar are usually the hosting venues for large-scale events such as the FIFA World Cup and Olympics, which in turn increase the demand, owing to the need to construct state-of-the-art infrastructure.
Geographies such as Israel, Egypt, Argentina, Saudi Arabia, and South Africa are also prophesied to rapidly contribute toward the growth of the global barium sulfate market. On the back of a steady recovery from economic crisis, developed regions such as the U.S. and Europe are envisaged to produce an optimistic outlook for the global market.
Solvay Chemicals Inc., Sakai Chemical Industry Co., Ltd., GFS Chemicals, Inc., NOAH Technologies Corporation, Hebei Xinji Chemical Group Co., Ltd., Jingyan Chem (H.K.) Ltd., and Chemical Products Corporation are some of the promising players expected to prevail in the global barium sulfate market.
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